About Us

Creating Value in the Gulf of Mexico

Creating Value in the Gulf of Mexico

A thriving, Independent Oil and Natural Gas Producer

W&T Offshore, Inc. is active in the acquisition, exploration and development of oil and natural gas properties in the Gulf of Mexico, the second-largest producing basin in the U.S. The Gulf of Mexico offers unique advantages, and we are uniquely positioned to create value with a diverse portfolio in valuable deepwater projects.

A Premium Operator in the Basin

With over 36 years in operation, we have developed an impressive portfolio of assets.

45%

Liquids % of 1P Reserves

53.6 MBoe/d

1Q 2020 Average Production (48% liquids)

$62.1 MM

1Q 2020 Adjusted EBITDA1

$282.9 MM

2019 Adjusted EBITDA1

1. EBITDA and Adjusted EBITDA are non-GAAP financial measures

A Promising Future of Shelf, Deepwater Projects

A Promising Future of Shelf, Deepwater Projects

Our diverse portfolio of operations in the Gulf of Mexico enjoys stacked pay development, attractive primary production, and recompletion opportunities.

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High Drilling Success Through Rigorous Evaluation

Achieving a ~94% Success Rate Since 2011

Our rigorous technical evaluation includes probabilistic risk analysis, AFE costing and economic evaluation to ensure successful execution.

400+

Leads evaluated since 2011

100%

Success rate in 2018 and 2019

49

Successful offshore wells drilled since 2011

Generating Shareholder Value

Strategic Capital Allocation

At W&T Offshore, we grow in opportunistic ways as we maintain a prudent balance sheet and reinvest free cash flow.

Organic Projects

We generate cash flow quickly by focusing on projects with a high rate of return and multiple drilling opportunities.

Asset Acquisitions

We pursue producing assets that have compelling valuations, upside potential, and optimization opportunities.

Inventory Expansion

We use our Gulf of Mexico expertise along with new technologies to identify and develop projects. We also evaluate joint venture funding potential.

Debt Reduction

We also use a portion of the free cash flow we generate to reduce our outstanding debt to maintain flexibility for future opportunities. 

A Promising Joint Venture in the Gulf

Accelerating High Return Inventory and Financial Flexibility

At W&T Offshore, we have secured a $361.4 MM commitment for the development of 14 pre-identified projects in the Gulf of Mexico.

The program, which can be potentially upsized, covers the total estimated cost of the 14 wells of $336 MM, plus contingency. We’ve drilled and completed nine wells through December 31, 2019. We initially receive 30% of the net revenues for contributing 20% of the capital expenditures, plus associated leases and access to available infrastructure.

Our share of the well net revenue increases once private investors achieve certain return thresholds. This allows us to develop our high return drilling inventory at a faster pace with reduced capital outlay and the flexibility to make acquisitions and pay down debt. The joint venture structure also expands our access to well-capitalized investors.

Committed to Safety and Environmental Responsibility

W&T Offshore employees follow the highest standards of health, safety, environmental and regulatory (HSE&R) behavior.

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A History of Growth and Success

Since 1983, we have been active in the acquisition, exploration, and development of oil and gas properties in the Gulf of Mexico.

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Giving Back Where We Live and Work

The W&T Offshore Helping Others program is a way for our employees to serve underprivileged children and families, and protect the environment.

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An Experienced Team of Energy Leaders

Our leadership team has a track record of success in the oil and gas business, much of it concentrated in the Gulf of Mexico.